Guo Mingji, an analyst at Tianfeng International, believes that if Vision Pro cannot sell out instantly, it will be lower than expected, which will affect the stock prices of Apple and the industry chain. The market response to Vision Pro is the key observation point for Apple's industry chain this year.

The most knowledgeable Apple analyst: Apple Vision Pro is expected to have a stock of 60,000 to 80,000 units before pre-sales. Only when it is "sold out" can it meet expectations.

Hong Kong stocks closed with the Hang Seng Index down 0.35%. Shipping stocks rose while automotive stocks were under pressure. The Hang Seng Index has fallen for 7 consecutive days, with a drop of about 1,000 points. Trading volume in Hong Kong stocks remained low as investors awaited inflation data. Oriental Overseas International led the blue-chip stocks, with China Sunergy and China Hongqiao seeing significant gains, while LI AUTO and Bank of China Hong Kong experienced significant declines. Most large technology stocks fell.

Hong Kong Stock Market Closing (01.12) | Hang Seng Index fell by 0.35%, shipping stocks rose against the trend, and automotive stocks remained under pressure throughout the day.

Since the beginning of the year, both Wall Street and domestic institutions have been lowering their target prices for BABA-SWR, with the lowest being HKD 103 and the highest being only HKD 128. This implies that there is still a potential upside of 46% to 81%. Why is this the case?

Why has the target price of BABA-SWR been frequently lowered recently?

The trading volume of options for biotechnology company Abbvie has skyrocketed to nearly 900,000 contracts, with bullish options accounting for 98.7%! The call options with a January 19th expiration date and strike prices of $155 and $140 have both traded over 130,000 contracts, while the call options with strike prices of $150 and $160 have both traded over 120,000 contracts.

US Stock Options | BABA-SWR trading volume falls back, Tesla surges to over 2.3 million contracts! AbbVie calls skyrocket overnight.

国家金融监督管理总局：引导保险资金投资科技型企业和面向科技型企业的创业投资基金、股权投资基金等，推动更多资金投早、投小、投科技。

现有 AI 模型都将变成愚蠢的模型、AI 成熟之后人类该去向何方？展望未来两年，人工智能最重要的三大里程碑可能是：推理能力和可靠性的提升、多模态发展、可定制性和个性化。

全文来了！当比尔·盖茨对话奥特曼

GOGOX fell more than 9% during trading, and as of the time of writing, it has dropped 8.33% to HKD 0.495, with a turnover of HKD 2.5485 million. According to data from the Hong Kong Stock Exchange, Alibaba reduced its holdings of GOGOX by 669,400 shares on January 4th, with an average price of HKD 0.5533 per share, cashing out approximately HKD 370,000, and reducing its stake from 8.04% to 7.93%. Since December 12, 2023, in less than a month, Alibaba has reduced its holdings of GOGOX shares four times, with a total reduction of approximately 7.5948 million shares and a cumulative cash-out of approximately HKD 4.63 million. According to GOGOX's five-year financial data disclosed in the 2022 annual report, the company has incurred losses of CNY 1.07 billion, CNY 180 million, CNY 660 million, CNY 870 million, and CNY 1.21 billion from 2018 to 2022, respectively. In addition, it incurred a loss of CNY 640 million in the first half of 2023. Over the past five and a half years, GOGOX has accumulated losses of over CNY 4.6 billion. GOGOX stated in its prospectus that due to the early stage of its intra-city logistics business, the company has made a large amount of investment to drive business growth. Considering its business investment plan, it is expected to continue to incur losses at least until 2024.

Hong Kong Stock Market News | GOGOX drops over 9% during trading, Alibaba reduces its holdings four times.

大型科技股收入增长强劲、现金流健康，在人工智能和芯片领域的大量投资可能会带来巨额回报！但投资者可能会考虑将一些资金转移到医疗保健和国防等更稳定的行业，因为这些股票的预期市盈率仅为 14-15 倍，有望每年获得 10% 的健康回报。

理解市场 | 美股还能飙升 12%？

BABA-SWR's fourth national-level application is about to explode

很多机构尚未进场，成交量已经爆棚，达到 46 亿美元。尽管先锋、高盛等大机构暂不加入战局，但分析认为随着更多机构加入，或将引爆新一轮行情。

比特币现货 ETF 上市第一天，交易情况怎么样？

美银证券发布研究报告，维持阿里巴巴-SW“买入” 评级，目标价下调至 103 港元。报告称，预计阿里巴巴-SW 在 2024 至 26 财年的收入和经调整纯利将下调，反映国内消费者需求疲弱和投资增长。预计阿里巴巴截至去年 12 月底止第三财季总收入将同比增长 5% 至 2,610 亿元人民币，淘宝天猫收入波动是主要原因。预计阿里巴巴国际数字商业集团和菜鸟物流将保持强劲势头，云收入将同比增长 3% 至 270 亿元人民币。根据预测，阿里巴巴经调整 EBITA 将同比增长 1% 至 530 亿元人民币。

美银证券：维持阿里巴巴-SW“买入” 评级 目标价下调至 103 港元

Vanguard Group, the world's second-largest asset management company, has stated that it will not create or offer Bitcoin ETFs due to a mismatch in investment philosophy.

In the midst of a frenzy, there is a giant that firmly rejects Bitcoin ETF

截至发稿，BC 科技集团跌 15.98%、美图公司跌 12.75%、新火科技控股跌 9.06%。消息方面，昨日美国证交会批准 11 只比特币现货 ETF 上市交易，BTC 走势并未因获批利好而走强。截至目前，BTC 跌 1%，报 46099 美元。

港股数字货币概念股回落 美图公司跌近 13%

香港政府将于 2 月底公布新一轮《财政预算案》，各政党陆续向政府提交意见，意见包括：去年股票印花税减幅不足，相信进一步减半至 0.05% 将有助提升大市成交量；呼吁楼市全面 “撤辣”，取消外来人口买楼征税及二套征税等；不应征收资产增值税和离境税，以免影响投资意愿及旅游零售行业；金管局应调整强基金投资组合成份，增拨一定份额如 5% 投资于香港股市。

香港提倡再降股票印花税与楼市征税 “撤辣”

JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo, the major Wall Street banks, will gradually release their quarterly earnings reports. Bank of America's stock surged 23% in the last quarter, marking its best quarterly performance since 2021, as investors gained confidence that the Federal Reserve would end its rate-hiking campaign without triggering an economic downturn. Investors will closely monitor the impact of policy easing on the banking sector. The market expects that the fourth-quarter performance of large banks will generally be poor, with net interest income expected to decline. The earnings reports of Morgan Stanley and Goldman Sachs, which will be released on Tuesday, are also highly anticipated.

Wall Street's big banks' earnings reports are coming tonight! Expectations of interest rate cuts have boosted the sector by 23%. Can their performance hold up?

2023 年我国出口同比增 0.6%，进口下降 0.3%。新三样产品合计出口 1.06 万亿元，增长 29.9%，首次突破万亿大关。对共建 “一带一路” 国家进出口增长 2.8%。民营企业进出口增长 6.3%，占进出口总值的 53.5%。出口机电产品占出口总值的 58.6%。自由贸易试验区数量扩大至 22 个，进出口增长 2.7%。跨境电商进出口增长 15.6%。

海关：2023 年我国出口同比增 0.6%，“新三样” 出口首次突破万亿大关

中国 12 月出口同比 (按美元计) 2.3%，预期 1.5%，前值 0.5%。

CHINA LIT surged more than 7%, and as of the time of writing, it has risen by 7.47% to HKD 30.2, with a turnover of HKD 62.5874 million. On the news front, Tencent Cloud recently launched the "Micro Drama Comprehensive Solution," which includes products such as a content cloud-native platform, production data analysis, data-driven operation and management platform, copyright protection system, and content distribution application platform. CSC Securities pointed out that the company previously announced plans to further expand cooperation with Tencent Group in the distribution of short drama projects and cloud services. Considering that five out of the top ten comics in Tencent Animation's revenue in the past three years are adaptations of CHINA LIT's online literature IP, with three of them being middle-waist novels, the bank is optimistic about the synergistic effect between CHINA LIT and Tencent Animation, which will enhance the monetization potential of the company's online literature IP. In addition, Jia Ling released the official poster for her new film "Hot and Spicy" yesterday morning, announcing that it will be released on February 10th, the first day of the Lunar New Year. This news immediately became a hot topic, with keywords such as "Jia Ling loses 100 pounds," "Hot and Spicy release date," and more trending. It is reported that the production lineup of this highly anticipated film "Hot and Spicy" includes Tianjin CHINA LIT Film and Television Culture Media Co., Ltd. and XINLI Media Group under CHINA LIT.

Hong Kong Stock Market News | CHINA LIT surges over 7%. The company is one of the producers of the movie "Hot and Spicy". The value of its intellectual property is expected to be released at an accelerated pace.

BC 科技集团跌超 9%，截至发稿，跌 9.94%，报 8.06 港元，成交额 517 万港元。去年 8 月后公司股价持续走强，不过开年以来从阶段高点已回撤 34%。消息面上，美东时间 1 月 10 日，美国证交会 (SEC) 文件显示，SEC 批准 11 只比特币现货 ETF。受比特币现货 ETF 在美国获得批准消息影响，比特币现货价格涨近 1.50%，逼近 47000 美元。国信证券 (香港) 指出，比特币现货 ETF 申请通过对于加密货币市场以及全球金融市场都有着重要的意义和影响，表明传统金融世界对于加密货币的认可，有望带来一定的增量资金，同时 2024 年是比特币减半周期叠加美联储在最新 12 月会议纪要上暗示已完成加息，或于 2024 年降息，在多种因素利好的情况之下预计比特币等加密货币市场在 2024 年会取得不错的表现，建议关注加密货币相关上市公司，包括 BC 科技集团等。

港股异动 | BC 科技集团跌超 9% 开年以来已回撤 34% 比特币现货 ETF 日前在美获批

中国造车新势力 “蔚小理” 及特斯拉中国调降多款车型售价，导致相关股票下跌。《股市简讯》中提到，理想汽车、小鹏汽车和蔚来汽车的股价下跌了 1.6-3.5%。特斯拉调降了 Model 3 焕新版、长续航焕新版和 Model Y 后轮驱动及长续航版的售价。Model 3 焕新版的售价降至 24.59 万元人民币，Model Y 长续航版的售价降至 29.99 万元。

理解市场 | “蔚小理” 为何齐跌？

* 花旗料科技股今年跑赢 荐舜宇、比亚迪电子、ASMPT、金蝶及中移动

* 花旗料科技股今年跑赢  荐舜宇、比亚迪电子、ASMPT、金蝶及中移动

* 美银证券降阿里目标价至 103 美元 下调收入及盈测

* 美银证券降阿里目标价至 103 美元  下调收入及盈测

WUXI BIO opened nearly 4% higher, and as of the time of writing, it has risen by 3.78% to HKD 31.6, with a turnover of HKD 130 million. In terms of news, WUXI BIO recently released a PPT at the JPMorgan Healthcare Conference, disclosing that the company added 132 new projects last year, bringing the total number of projects to 698. The company is confident in achieving steady growth this year, with the target for the number of new projects in 2024 increased from 80 to 110. In addition, the company announced a research service agreement between its Contract Research and Development Organization (CRDMO) and BioNTech SE SE, to develop antibodies targeting two undisclosed targets for the development of next-generation candidate drugs. WUXI BIO will receive an initial payment of USD 20 million and will be eligible for research, development, registration, and commercialization milestone payments, as well as tiered sales royalties.

Hong Kong Stock Market News | WUXI BIO opens nearly 4% higher, raises this year's project guidance, and reaches an agreement with BioNTech SE.

WELLCELL HOLD made its debut on the stock market with an IPO price of HKD 1 per share, raising a net amount of HKD 62.67 million. As of the time of writing, the stock price has risen by 77% to HKD 1.77, with a trading volume of HKD 11.3692 million. WELLCELL HOLD is a Chinese telecommunications network support, information and communication technology (ICT) integration service provider, and software developer. The company's clients mainly include telecom operators, equipment manufacturers, technology service providers, and general contractors.

On the first day of trading, WELLCELL HOLD made its debut on the stock market, opening at a 77% increase in the morning session.

港股开盘，恒指开跌 0.52%，科指开跌 0.75%。造车新势力走低，小鹏汽车跌 4.2%。

先锋集团表示，将不允许其客户购买最近推出的 11 只现货比特币 ETF 中的任何一只。先锋集团认为这些产品与他们专注于股票、债券和现金等资产类别的产品不一致。

先锋集团：不许客户购买比特币 ETF

“木头姐” 表示，美国 SEC 已批准首批现货比特币 ETF，因此她进一步上调了对比特币价格的预期。她认为，在最乐观的情况下，2030 年比特币价格可能达到 150 万美元，比之前预期的 100 万美元更为乐观。即使在熊市情况下，2030 年比特币价格也可能达到 25.85 万美元，是当前价格的五倍多。她的基本预测是比特币到 2030 年达到 68.28 万美元。

“木头姐”：比特币 2030 年有望达到 150 万美元

今年市场仍偏好港股，原因在于港股对于美国减息更为敏感，有望受息口变化之惠。资金流入的是互联网、金融板块，包括对腾讯、美团、阿里巴巴的买盘，整个恒生中国企业指数/恒生指数的看涨押注仍然持续，特别是对互联网和保险的看涨期权。

理解市场 | 空头占领中资股！但为什么没有必要悲观？

Microsoft's market value once surpassed Apple's, hitting new highs for two consecutive days. Tesla has fallen for three consecutive days. Concept stocks of digital currencies have plummeted. Bitcoin briefly soared to $49,000, reaching a three-year high. Google has canceled its cloud service conversion fees. The United States and the United Kingdom have begun airstrikes on Houthi targets in Yemen. Tesla's Berlin factory will halt production for two weeks due to the Red Sea crisis. Guo Mingchi predicts that Apple's VisionPro will sell like hotcakes.

Breakfast | Red Sea crisis escalates with joint airstrikes by the UK and US, Bitcoin spot ETF trading volume reaches $4.6 billion.

Apple's virtual reality headset, Vision Pro, may be difficult to purchase when it is released and is expected to sell out quickly. This headset is Apple's first significant new product since the release of the Apple Watch in 2014. Wall Street analysts believe that Vision Pro will not have a significant impact on Apple's sales in the short term, but they will observe consumer reactions to predict the sales performance of future versions. Ming-Chi Kuo stated that breakthrough technological innovations and a strong fan base will make this headset easily sell out. The use cases for Vision Pro include replacing laptops, watching 3D movies, and experiencing panoramic environments.

Guo Mingchi: Apple VisionPro headset "first sales" 60,000-80,000 units, will quickly sell out after launch.

"木头姐"凯茜·伍德预测比特币最高可能达到 150 万美元，并表示 Ark 21Shares 比特币 ETF 将吸引 40 亿美元资金流入。伍德引用比特币的减半和供应上限 2100 万作为价格上涨的理由，并对比特币的未来持乐观态度。她表示基金正在积极与各种机构接触，以确保 Ark 21Shares 比特币 ETF 获得初步投资。伍德强调了机构投资者通过交易所交易基金 (ETF) 对比特币价格的潜在影响。

“木头姐” 大胆预测 比特币最高或达到 150 万美元

Microsoft temporarily overtakes Apple as the highest-valued publicly traded company. Apple is facing a series of challenges, including a decline in stock price, decreased revenue from Chinese assemblers, and an impending antitrust case by the US Department of Justice. Barclays Bank and Piper Sandler have downgraded Apple's rating. Experts believe that Microsoft has greater profit potential and is making progress in the field of artificial intelligence. Microsoft's introduction of the "Copilot" key is expected to further expand its prospects. Microsoft's stock has seen a slightly stronger increase compared to Apple, and Microsoft has surpassed Apple twice before as the highest-valued publicly traded company. Saudi Aramco also briefly held the title, but Apple maintained it for a year and a half. Approximately half of Apple's revenue relies on Apple.

Microsoft temporarily takes Apple's "throne" Experts believe that the former has greater profit potential

美国比特币现货 ETF 上市首日交易量达到 46 亿美元。

Hertz Global Holdings, Inc. ordered 100,000 vehicles from Tesla in 2021. This sale includes 20,000 vehicles, including Tesla and Y, accounting for one-third of its total electric vehicle fleet in the United States. Hertz Global Holdings, Inc. fell more than 6% during Thursday's trading session.

Unable to bear high costs, rental car giant Hertz Global Holdings, Inc. plans to sell 20,000 electric vehicles and switch back to gasoline cars.

Alphabet-C has decided to stop charging customers for switching cloud services, which may force competitors Amazon and Microsoft to adopt the same approach.

Alphabet-C terminates cloud conversion fees, putting pressure on Amazon and Microsoft

加密货币相关股票逆转盘初涨势，Riot Blockchain12%，Marathon Digital 跌超 11%，Coinbase 跌 6%。

Reconstructing operating systems with AI.

Honour is going to challenge Apple's dominance.

虚拟货币板块集体大涨，嘉楠科技涨 14.5%，CleanSpark 涨 7.8%，Coinbase 涨 5.1%。花旗跌 2.0%，发布 Q4 业绩预警。Lyft 跌 1.6%，高盛下调其评级至 “中性”。西方石油涨 1.1%，伯克希尔的持股比例已增至 34%。

道指开盘涨 0.2%，标普 500 涨 0.2%，纳指涨 0.3%

比特币日内涨幅扩大至近 5%，再度逼近 48000 美元。

Valkyrie 比特币 ETF 在美国盘前开始交易；最新报价为 14.69 美元。

市场消息：“木头姐” Cathie Wood 表示，在牛市的情况下，到 2030 年比特币的价格将达到 150 万美元，而基本情况是达到 60 万美元的区间。

WisdomTree：WisdomTree 比特币基金在芝加哥期权交易所 BZX 上市，费率为 0.30%。

A.P. Møller - Mærsk A/S CEO warns that the Red Sea conflict will ultimately bring inflationary pressures to European and American consumers, causing significant disruptions in late January, February, and early March.

No hope for short-term resumption? A.P. Møller - Mærsk A/S CEO: Interruption of the Red Sea route may last for several months.

比特币站上 47000 美元/枚，日内涨 2.43%。

资产管理公司 VanEck：VanEck 推出比特币信托基金，这是一种 ETF，提供现货比特币敞口，代码为 HODL，其价格将具有竞争力，费用率为 0.25%，公司已向 HODL 注资 7250 万美元。

对冲基金新王 Citadel 证券计划收购瑞信中国证券业务，以扩大在中国的业务规模。Citadel 证券已提出约 20 亿元人民币的收购价，与瑞信希望的价格相符。此举是因为瑞银集团收购瑞信后，根据监管规定，瑞银必须出售瑞信在中国的业务。目前已有一家中国公司提出竞购。此外，外资控股券商在中国市场增多，花旗集团计划设立全资中国投行部门。

报道：“对冲基金新王” Citadel 要收购瑞信在华业务

According to a report by Citigroup, the devaluation of the Argentine peso in the fourth quarter resulted in a loss of approximately $880 million, while global restructuring expenses during the same period amounted to around $780 million.

Citigroup is facing losses in the fourth quarter due to the severe depreciation of the peso and the significant costs of restructuring.

Grayscale 比特币 ETF 在纽约证券交易所 ARCA 市场开始盘前交易；最新报价为 41 美元。

iShares Bitcoin ETF began trading in pre-market on the US stock market. Concept stocks related to cryptocurrencies collectively rose in pre-market, with Bit Digital surging over 13% at one point, Marathon Digital and Coinbase surging over 7% at one point. As for Chinese concept stocks, Bilibili, Li Auto, and XPeng all rose over 3%.

Pre-market trading in US stocks: Cryptocurrency stocks and Chinese concept stocks all rise! US December CPI to be released tonight.

受美国证交会批准现货比特币 ETF 推动，Robinhood 美股盘前涨超 3%。